Industry

Nevada's largest city has long been the epicenter for high-roller wagering and lavish festivities. However, its multi-layered commitment to growing its sports culture has put it in a powerful position amid the dominant rise of American legal sports betting.

2023 was a record setting year for sports betting with over a $100 billion handle, more than a 7.2% increase from 2022. Ohio and Massachusetts posted impressive numbers in their 1st year, and New York proved to be the best state in terms of monthly handle.

After purchasing PointsBet US Sportsbook, Fanatics is positioning itself to become a major player in the US mobile betting industry. They plan on using all their extensive resources from their other brands to entice players to register to bet with them.

As the national handle increased, so too did legal sportsbooks’ revenues. Online and retail operators combined to generate $16.2 billion in gross gaming revenue (GGR) in Q3 2023, a 6.7% improvement on Q3 2022.

According to the New Jersey Division of Gaming Enforcement, last month was the most successful in the state’s history since it legalized sports betting in 2018. That activity resulted in New Jersey sportsbooks claiming $95.9 million in revenue, an improvement on the $92.3 million claimed in October.

According to The Guardian, FanDuel, one of the largest online sportsbooks in America, lobbied in New York against a ban on verbiage that would attract those with or at risk of developing a gambling addiction. It also did not support a ban on sports betting advertisements near college campuses.

Meredith Whitney, known as the “Oracle of Wall Street,” said on Squawk on the Street on CNBC that as sports betting continues to increase in popularity, there will be even more customers that take on losses. As those losses incur, the current generation of homeowners will have nobody to sell their property to.  

The new game format requires users to make two-six selections of “More” or “Less” on a player prop. Customers compete against other DraftKings users and can win a piece of a prize pool with every Pick6 contest they enter.

Portnoy recently admitted to taking “some monster losses.” Despite that, the controversial multimedia figure’s confidence is unwavering as the top team in the country prepares to take on the most dominant program of the CFP era.

The strike, which involved workers from MGM Grand Detroit, Hollywood Casino at Greektown and MotorCity Casino, began on October 17. At the core of the workers’ issues were poor wages, which had not been increased at the rate of local inflation, in addition to healthcare coverage.